Toronto’s finances will continue to rely heavily on federal and provincial government for its 2021 budget and beyond, with $1.6 billion needed for supports this year.The launch of Toronto’s budget process on Thursday came with a warning from the city’s budget chief that this will be among the hardest financial years in Toronto’s history.
Toronto needs more inter-governmental aid in face of projected 2021 $1.7B hole: City Manager Toronto’s $13.95 billion operating and rate supported budget will rely on $1.6 billion in federal and provincial supports.